Assets in separately managed accounts have grown 4.1% over the past three months, from $32 billion to reach over $805.8 billion in the third quarter, according to the Money Management Institute. Industry assets grew 24.8% over the last year.
The estimated number of industry accounts totaling 2.52 million, represents a decline of 4% since second quarter 2006, and an increase of 18% over the 2.13 million accounts estimated in third quarter 2005.
Global product share of the SMA market continues to rise from 19% a year ago to 25% as of third quarter this year. Wirehouses continue to dominate the area, controlling 78.4 % of the industry’s assets. However, banks have built the second highest share at 8.1%.